Xfce 4.2.2 has been released. "Xfce 4.4.2 is now available. It's the second maintenance release in the 4.4 stable series, focusing on fixing bugs and updating translations." You can download it off the Xfce website, or read the changelog first.

What I especially like is that XFCE's composite manager for decent shadows and transparency also works with the generic vesa driver!
As far as I know it is the only window-manager that supports this feature.

From the documentation: xfwm4 includes its own compositing manager, which takes advantage of the new X.org's server extensions. The compositor is like a WM on its own, it manages a stack of all windows, monitor all kinds on X event and reacts accordingly. Having the compositing manager embedded in the window manager also helps keeping the various visual effects in sync with window events. If you want to use the compositor, you have to build xfwm4 using the --enable-compositor configure option. In any case, you can disable the compositor on xfwm4 startup using the '--compositor=off' argument.